The iCloud Download column cannot be removed from a playlist in Songs View for very long (it can’t be removed at all from a playlist in Playlist View). You can hide it using View Options, but this will only be temporary and it won’t be long before it pops back up again. Its default initial placement seems to be adjacent to the Name column.
Personally, I like having this column available since I sometimes want to know if a track I want to work on has a local file or one that resides in the cloud. But I have heard from Correspondents who would prefer this column to stay hidden when they hide it.
Indeed. And Doug makes a good suggestion as to how to deal with it.
Source: Doug’s AppleScripts for iTunes » Tip: Pesky iCloud Download Column